Post # 1
To make a very long story short. We got engaged 1+ year ago and we are getting married in September. Fiance parents and my mother are contributing to some of the costs and it ends up being split 1/3 each way between our parents and ourselves.
We booked the venue, vendors, etc. and committed ourselves to expenditures that we were going to be able to pay in cash, and we opted for a longer engagement to make sure it would be paid for in full.
BUT, then I got injured on the job and I am out of work. My income got cut by about $800/month. So, now we’re going to be short about $6500 of our projected wedding budget.
So, we made some cuts. I went over the budget and we are still over about $3500, and this isn’t including the money I will need to be a Bridesmaid or Best Man in a wedding in July…
I feel bad asking Fiance parents for more money, but ultimately we’d prefer to ask them for a loan versus a bank. We are planning on putting a bit on credit cards as well. We’ve both got excellent credit and would work to pay it all off with wedding money and income after the wedding. In addition, I plan to ask each vendor (including our venue) if there is anything they can do to help…
I’d hate to put any money on credit or even take out a loan, but clearly we’ve cut the budget as much as feasible. We also don’t want to push the wedding back because quite frankly, we don’t want it to be hanging over our heads for even longer.
Does anyone have any suggestions? Fiance is looking for a second job and I’m thinking of trying to sell some stuff at consignment and on Ebay…any other suggestions that could make us money to avoid a loan/credit?
Post # 3
I think the things you proposed are a great start (asking FIs parents instead of a bank, putting a few things on the credit card, asking vendors). How much is it going to cost to be a bridesmaid in the other wedding? Is there a way you can bow out if its too much financially?
Post # 4
We’re also trying to pay for little things with our monthly spending budget…
the other wedidng will cost about $1000 but she is my Maid/Matron of Honor so I wouldn’t feel comfortable pulling out…esp. because she has been engaged almost 2 years.
It’s just frusterating because we’re very credit-saavy and financially smart. I had really wanted to pay in cash so this kind of stresses me out…
Post # 5
@Miss Orchard: I think your plan sounds like exactly what I would do. Are you guys getting a tax return back? Can you donate plasma? That may be extreme, but where I live you get $200 a month. I sell CDs, DVDs, and books back to used book stores sometimes for extra cash. I also babysit on the side which brings in a little extra money. I’m so sorry you guys are going through this!
Post # 6
Thanks for the support! I actually looked into donating plasma but there aren’t any places in Boston that give money for it!!
We are already factoring in our tax return…hopefully it’s bigger than what we’re budgeting…
Post # 7
I would speak to your bank than use credit cards. You should pay less interesst and it will help your credit file for when you want to buy a house. I had to take out a loan to pay the rest of mine off (We saved more than half on our own) as it was becoming a big strain each month to give every single penny when we could spread the cost over a longer period.
Honeymoon wise I have asked my guests for holiday vouchers for a specific holiday company or cash gifts and Im going to book a late deal 2 days after im married. It means your choice might be limited but will definatly help your budget!
Also why dont you look for your Bridesmaid or Best Man dress on ebay? I paid for my Bridesmaid or Best Man dress’s and for some of mine I found the dress they were going to wear in a shop and looked on ebay until someone was selling the dress I wanted in each size (April time would be perfect to start this as the wedding season would have started. And then after you have worn it sell it back on ebay!!)
You can also do Mystery Shopping for extra cash. It doesnt pay brilliant but if you do it on a food place then you have eaten and gained some cash! Google GAPBUSTERS, I have done work for them in the UK but I know their world wide and should operate in the US 🙂
Post # 8
We were in a somewhat similar situation. All the contracts had been signed, everything was good to go, but then my father was laid off. I was no longer comfortable taking the original amount he had offered us for the wedding, I just couldn’t do it.
We sold all kind of things on Amazon: books, dvds, random things laying around the house we never used. I think our DVD collection (really, how often do I feel the need to bust out 8 seasons of family guy?) alone netted us almost a grand. In the end, we put about $4K on my credit card. I paid off most of it with our tax return and transfered the rest to another card with 0% interest balance transfer offer and should have it paid off soon.
Post # 9
- Wedding: June 2017 - Vegas Wedings
I was going to say what Redhairedbride: said about the personal loan from your bank or credit union. It will give you a lower interest rate and be better for your credit. PLEASE please dont use your credit card unless that is your only option. Those rate are not competive compared to small bank loans.
Post # 10
I have a few friends who go to yard sales and buy lots of movies, etc and then sell them on ebay/amazon.
Talking to vendors to change options is a good idea – maybe you can cut a food or drink or linen option. Is a second job completely off the table per your injury recovery/compensation? Can you cut back cell phone plans/cable/etc? cut back on insurance coverage (ONLY) if you’re no longer driving your vehicle? Even a few hundred $$ will be less that has to be paid back.
Post # 11
I think its a good idea to ask your FI’s parents or your parents for a small loan, as opposed to going to the bank or credit cards. That way you would not be paying interest and (hopefully) there would be more flexibility in paying them back (i.e. you wouldnt have to start right away with payments if it wasn’t feasible…if you were struggling one month, they would be able to give you a break on the payment until you could pay it…etc).
Post # 12
It sounds like you’re already doing a lot to make things work. If his parents or yours can afford to give you a bit of a loan, I would explain the situation and ask.
Also, you mentioned being a Bridesmaid or Best Man… how much do you think that will cost? My BMs are spending $200 on their dresses and they won’t have to pay for anything else at all, I’ve told them I don’t want them to. If the bride in that wedding expects you to pay for the shower and bachelorette or anything, maybe explain to her the situation as well and tell her you can’t afford to do more than buy the dress and show up right now. I think most brides would be understanding and helpful if their friend is in a tough spot.
Post # 13
Good previous suggestions. Cut back on the grocery budget – look at threads here regarding coupon clipping. Boston doubles coupons, so it can be worth it to pay attention to this.
Donating blood for money is illegal here in Mass I think 🙁 But you can do research studies for cash.
Also talk to a temp agency to see if you can get a few weekend hours maybe?
Talk to your friend, she may be more understanding than you think and be able to cut back on what is expected of you. Maybe you can host the shower at a house/apartment instead of a restaurant or snag some groupon deals for the bachelorette party. Ask her if you can do your own hair/makeup/nails. Every bit helps!
Post # 14
I am so sorry you were hurt.
Are you pretty set on continuing with the tpye of wedding you have planned as is? I’d have to reconsider my venue, my guest list and maybe even go to a restauarnat for a reception or even a private wedding, but that is me. I would not go in the whole for my day. That is a significant amount without having any back up funds either for another unexpected expense.
Post # 15
I know you said that you are out of work because of an injury. Does that leave you incapacitated? If not, I would consider registering with care.com for housesitting/petsitting/babysitting jobs. I have hired providers from that site and it is a fantastic resource (and they get paid very competitively in cash).